Super-Affordable and Exotic…Plus Full of Adventure and Discovery

In many places, Thailand is beautiful, from the misty mountains to the pristine beaches. A  would-be retiree would have no trouble enjoying life here…there is a large and established expat community, plenty of golf courses, excellent medical and dental care, and all the services and amenities that an expat could want.

The kicker though, is the price. Thailand is arguable the cheapest place on Earth to live well. While affordable luxury is available, you have the option to live on a very modest budget…thanks to US$1 Pad Thai lunches and US$11-a-night hotels (including breakfast and free Wi-Fi).

One thing to keep in mind: Foreigners can own apartments and condos in Thailand but, unless they go through hoops, not real property.

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Population  66,720,153 (July 2011 est.)
Gross Domestic  Product (GDP) $586.9 billion (2010 est.)
GDP Per Capita $8,700 (2010 est.)
Inflation Rate 3.3% (2010 est.)
Currency Bath
Exchange Rate Versus U.S. Dollar  31.663 (2010)  baht per US dollar -
Language Thai, English (secondary language of the elite), ethnic and regional dialects
Capital BANGKOK
Population of Capital City 6.902 million (2009)
Time Zone UTC/GMT +7 hours
Seasons tropical; rainy, warm, cloudy southwest monsoon (mid-May to September); dry, cool northeast monsoon (November to mid-March); southern isthmus always hot and humid
International Dialing Code 66
Electricity 220V, 50Hz
System of Government civil law system with common law influences
Name and Party Affiliation of Current Leader chief of state: King PHUMIPHON Adunyadet, also spelled BHUMIBOL Adulyadej (since 9 June 1946)
Income Tax Rate for Residents Residents are liable to tax on their worlwide income at progressive rates, from 0%-37%
Property Tax Owner occupied and uninhabited dwellings pay no property tax. Rented properties are taxed 12.5% of the assessed annual rental value of the property. 
Capital Gains Tax Capital gains are exempt from personal income tax if the shares sold are of a public company registered on the stock exchange of Thailand. Otherwise, gains are subject to the normal progressive personal income tax rates. 
Inheritance Tax no
Rental Income Tax progressive rates from 10% to 37% 
Transfer Tax 0.10%
Sales Tax 7%
Restrictions on Foreign Ownership of Property Thailand land law generally prohoibits foreigners from owning freehold land in Thailand
Local Chamber of Commerce http://www.thaiechamber.com/
American Chamber of Commerce http://www.amchamthailand.com/acct/asp/default.asp
Primary Exports  
Residency and Visa Requirements Citizens of United States entering Thailand by air will be granted a 30 day stay. Those entering Thailand by land land will be granted a 15 day stay. 
Special Benefits for  Foreign Residents or Retirees Obtaining a Permanent Residence Permit also known as Residence Visa/Permanent Visa will allow you to stay in Thailand permanently without the need for a Visa
National Airline www.thaiairways.com

 

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